Premium only plan definition

Premium only plan means the vehicle through which a participant pays his or her share of benefit costs by reducing his or her salary and using pre-tax dollars.
Premium only plan means the vehicle through which a participant may elect to pay his or her share of benefit costs by reducing his or her salary and using pre-tax dollars.
Premium only plan means the portion of the Plan described in ARTICLEIII, which allows each Participant to pay Qualifying Premium Expenses on a pretaxsalary reduction basis.

Examples of Premium only plan in a sentence

  • Currently, it is Open Enrollment for: Premium only plan (POP) and ARAG legal.

  • Employee pre-tax contributions to health insurance: Also known as a Premium only plan (POP), this is the most basic type of Section 125 Plan.

  • The portion that the employees pay towards their insurance coverage through the district is done on pre-tax bases through an approved Premium only plan.

  • After review, Keith Martin made a motion, seconded by Justin Harnish to adopt Resolution #041111 which authorizes the adoption of a Premium only plan for township employee’s health insurance premiums.


More Definitions of Premium only plan

Premium only plan means the vehicle through which a participant may elect to pay his share ofbenefit costs by reducing his salary and using pre-tax dollars,
Premium only plan means insurance offered under the Employer’s Insurance Contract(s) selected in the Plan Document for the Participant, Spouse, and Dependents. The Employer may select suitable Insurance Contracts for use in providing health insurance benefits and other insurance benefits. Salary reductions are on a pre-tax basis to pay for certain premiums and not through a Spending Account.
Premium only plan means the plan of benefits contained in Section 4.1 of this Plan, which provides for the payment of Premium Expenses.

Related to Premium only plan

  • Premium payment plan means a benefit plan whereby state and

  • Parent 401(k) Plan has the meaning set forth in Section 6.6(e).

  • Company 401(k) Plan has the meaning set forth in Section 6.4(e).

  • Buyer 401(k) Plan has the meaning set forth in Section 6.01(h).

  • Seller 401(k) Plan shall have the meaning set forth in Section 6.01(i).

  • Insurance Program or “program” shall mean a program which has been designated as a major program of PRISM under which participating members are protected against designated losses, either through joint purchase of primary or excess insurance, pooling of self-insured claims or losses, purchased insurance or any other combination as determined by the Board of Directors. The Board of Directors, the Executive Committee, or a program’s governing committee may determine applicable criteria for determining eligibility in any insurance program, as well as establishing program policies and procedures.

  • Premium pay Per the statute, recipients have broad latitude to designate critical infrastructure sectors and make grants to third-party employers for the purpose of providing premium pay or otherwise respond to essential workers. While the interim final rule generally preserves the flexibility in the statute, it does add a requirement that recipients give written justification in the case that premium pay would increase a worker’s annual pay above a certain threshold. To set this threshold, Treasury analyzed data Federal Register / Vol. 86, No. 93 / Monday, May 17, 2021 / Rules and Regulations 26817 from the Bureau of Labor Statistics to determine a level that would not require further justification for premium pay to the vast majority of essential workers, while requiring higher scrutiny for provision of premium pay to higher- earners who, even without premium pay, would likely have greater personal financial resources to cope with the effects of the pandemic. Treasury believes the threshold in the interim final rule strikes the appropriate balance between preserving flexibility and helping encourage use of these resources to help those in greatest need. The interim final rule also requires that eligible workers have regular in-person interactions or regular physical handling of items that were also handled by others. This requirement will also help encourage use of financial resources for those who have endured the heightened risk of performing essential work.

  • Group Policy /”policy” means the breakdown policy as set out in this document;

  • Health benefits plan means a benefits plan which pays or

  • Parent Plan has the meaning set forth in Section 7.8(b).

  • Flexi Plan means any individual indemnity hospital insurance plan under the VHIS framework with enhancement(s) to any or all of the protections or terms and benefits that the Standard Plan provides to the Policy Holder and the Insured Person, subject to certification by the Government. Such plan shall not contain terms and benefits which are less favourable than those in the Standard Plan, save for the exception as may be approved by the Government from time to time.

  • D&O Policy has the meaning set forth in Section 6.18(b).

  • 401(k) Plan has the meaning set forth in Section 6.10.

  • Premium Letter means the letter agreement dated the Closing Date among LBAC, the Issuer and the Note Insurer referring to payment of the Premium.

  • Number of Students Who Began Program means the number of students who began the program who are scheduled to complete the program within the reporting calendar year.

  • Group health benefit plan means any health care plan, subscription contract, evidence of

  • Payment Plan means the schedule of payment prescribed in Schedule C;

  • Additional gap medical benefits means the benefits (if any) payable in respect of medical expenses that are more than the schedule fee and which otherwise meet the requirements of the fund’s no or known gap policy, provided always that the medical expenses relate to a professional service that:

  • Basic health plan model plan means a health plan as required in RCW 70.47.060(2)(e).

  • Compensation Plans shall have the meaning set forth in Section 3.8(b).

  • Number of Students Who Began the Program means the number of students who began a program who were scheduled to complete the program within 100% of the published program length within the reporting calendar year and excludes all students who cancelled during the cancellation period.

  • Pay Plan means the scale of wages as contained in the attached Appendix “A” and the rules governing its application, as per Article 12.

  • Retiree means any person who has begun accruing a retirement

  • Parent Plans has the meaning set forth in Section 6.4(c).

  • Retiree Health Plan means an "employee welfare benefit plan" within the meaning of Section 3(1) of ERISA that provides benefits to individuals after termination of their employment, other than as required by Section 601 of ERISA.

  • Health Plans means any and all individual and family health and hospitalization insurance and/or self-insurance plans, medical reimbursement plans, prescription drug plans, dental plans and other health and/or wellness plans.